<SEC-DOCUMENT>0000929638-20-000089.txt : 20200124
<SEC-HEADER>0000929638-20-000089.hdr.sgml : 20200124
<ACCEPTANCE-DATETIME>20200124105926
ACCESSION NUMBER:		0000929638-20-000089
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200124
DATE AS OF CHANGE:		20200124

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAY TELEVISION INC
		CENTRAL INDEX KEY:			0000043196
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				580285030
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-47013
		FILM NUMBER:		20544269

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042668333

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS SYSTEMS INC /GA/
		DATE OF NAME CHANGE:	19950612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19911011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS SYSTEMS INC
		DATE OF NAME CHANGE:	19880331

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Retirement Systems of Alabama
		CENTRAL INDEX KEY:			0001593051
		IRS NUMBER:				631103312
		STATE OF INCORPORATION:			AL
		FISCAL YEAR END:			0914

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		201 SOUTH UNION STREET
		CITY:			MONTGOMERY
		STATE:			AL
		ZIP:			36104
		BUSINESS PHONE:		334-517-7108

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 302150
		CITY:			MONTGOMERY
		STATE:			AL
		ZIP:			36130-2150
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>sc13g.htm
<TEXT>
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          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">UNITED STATES</div>
          <div style="text-align: center;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
          <div style="text-align: center;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Washington, D.C.&#160; 20549</font></div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">SCHEDULE 13G</div>
    <div><br>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Under the Securities Exchange Act of 1934</div>
    <div><br>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">(Amendment No. _____________)*</div>
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    <div style="text-align: center; font-family: 'Times New Roman';">Gray Television, Inc.</div>
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            <div>&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman';">389375106</div>
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    <div style="text-align: center; font-family: 'Times New Roman';">December 31, 2019</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">(Date of Event Which Requires Filing of this Statement)</div>
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    <div><br>
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    <div style="text-align: left; font-family: 'Times New Roman';">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
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  <div> <br>
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  <div style="font-family: 'Times New Roman',Times,serif; text-align: left;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#9746;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rule 13d-1(b)
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    <div><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rule 13d-1(c)</div>
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    <div><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>&#9744;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rule 13d-1(d)</div>
    <div><br>
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    <div><br>
    </div>
    <div>*The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures
      provided in a prior cover page.</div>
    <div>The information required in the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;) or otherwise subject to the liabilities of that section of the Act but
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">Page 1 of 6 pages</font></div>
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  <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control numbe</b> </p>
  <p class="MsoNormal">CUSIP No. 46263D 10 6</p>
  <p> </p>
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          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 2.98%;">
          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 3%;">
          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 35%;">
          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 22%;">
          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 25.03%;">
          <div>&#160;</div>
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        <td style="border-top: 1px solid rgb(0, 0, 0); width: 2.01%;">
          <div>&#160;</div>
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        <td colspan="2" rowspan="1">Names of Reporting Persons.</td>
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          <div>&#160;</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 2.98%;">
          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
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        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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          <p style="font-family: 'Times New Roman',Times,serif;" class="MsoNormal">Retirement Systems of Alabama</p>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 10%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.98%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 3%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 35%;">
          <div>&#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 2.98%;">
          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
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        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>2.</div>
        </td>
        <td colspan="2" rowspan="1">
          <p class="MsoNormal">Check the Appropriate Box if a Member of a Group (See Instructions)</p>
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          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
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        <td style="width: 2.98%;">
          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
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        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
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        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
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        <td style="width: 2.98%;">
          <div>&#160;</div>
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          <div>(b)</div>
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        <td colspan="3" rowspan="1" style="border-bottom: 1px dotted rgb(0, 0, 0);"><br>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 10%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.98%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 3%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 35%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 22%;">
          <div>&#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">3.<br>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.98%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 3%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 25.03%;">
          <div>&#160;</div>
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        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
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        <td style="width: 10%;">
          <div>&#160;</div>
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        <td style="width: 2.98%;">4.</td>
        <td colspan="2" rowspan="1">Citizenship of Place of Organization<br>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
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        <td colspan="1" style="width: 10%;">
          <div style="text-align: left;">Number of</div>
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        <td colspan="2" rowspan="1">Sole Voting Power</td>
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          <div style="text-align: left;">7,126,750</div>
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        <td style="width: 25.03%;">
          <div>&#160;</div>
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        <td style="width: 2.01%;">
          <div>&#160;</div>
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        <td style="width: 2.98%;">
          <div>&#160;</div>
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        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
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        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="width: 10%;">
          <div style="text-align: left;">Beneficially</div>
        </td>
        <td style="width: 2.98%;">6.<br>
        </td>
        <td colspan="2" rowspan="1">Shared Voting Power</td>
        <td style="width: 22%;">
          <div>0</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="width: 10%;">
          <p class="MsoNormal">Owned by Each</p>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="width: 10%;">
          <div style="text-align: left;">Reporting</div>
        </td>
        <td style="width: 2.98%;">7.<br>
        </td>
        <td colspan="2" rowspan="1">Sole Dispositive Power</td>
        <td style="width: 22%;">
          <div>
            <div style="text-align: left;">7,126,750</div>
          </div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="width: 10%;">
          <div style="text-align: left;">Person With:</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="width: 10%;">&#160;</td>
        <td style="width: 2.98%;">8.<br>
        </td>
        <td colspan="2" rowspan="1">
          <div>Shared Dispositive Power</div>
        </td>
        <td style="width: 22%;">0</td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="border-bottom: 1px solid #000000; width: 10%;">&#160;</td>
        <td style="border-bottom: 1px solid #000000; width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>9.</div>
        </td>
        <td colspan="2" rowspan="1" style="width: 3%;">
          <div>
            <div style="text-align: left;">Aggregate Amount Beneficially Owned by Each Reporting Person</div>
          </div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>
            <div style="text-align: left;">7,126,750</div>
          </div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>10.</div>
        </td>
        <td colspan="4" rowspan="1" style="width: 3%;">
          <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)<br>
          </div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>11.</div>
        </td>
        <td colspan="2" rowspan="1" style="width: 3%;">
          <div>
            <div style="text-align: left;">Percent of Class Represented by Amount in Row (9)</div>
          </div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>7.6%</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: 1px solid #000000; width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;"><br>
        </td>
        <td style="width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="width: 2.98%;">
          <div>12,</div>
        </td>
        <td colspan="2" rowspan="1" style="width: 3%;">
          <div>
            <div style="text-align: left;">Type of Reporting Person (See Instructions)</div>
          </div>
        </td>
        <td style="width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="width: 25.03%;">EP</td>
        <td style="width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: 1px solid #000000; width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="7" rowspan="1" style="border-bottom: 1px dotted #000000; width: 10%;"><br>
        </td>
      </tr>
      <tr>
        <td colspan="7" rowspan="1" style="border-bottom: 1px dotted #000000; width: 10%;">&#160;</td>
      </tr>
      <tr>
        <td colspan="7" rowspan="1" style="border-bottom: 1px dotted #000000; width: 10%;">&#160;</td>
      </tr>
      <tr>
        <td colspan="7" rowspan="1" style="border-bottom: 1px dotted #000000; width: 10%;">&#160;</td>
      </tr>
      <tr>
        <td colspan="7" rowspan="1" style="border-bottom: 1px dotted #000000; width: 10%;">&#160;</td>
      </tr>
      <tr>
        <td style="border-bottom: 1px solid #000000; width: 10%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.98%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 3%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 35%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 22%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 25.03%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; width: 2.01%;">
          <div>&#160;</div>
        </td>
      </tr>

  </table>
  <p> <br>
  </p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">Page 2 of 6 pages</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <p class="FirmTitleCB" style="text-align: left; font-family: 'Times New Roman',Times,serif; font-weight: bold;" align="left"> </p>
  <div style="text-align: left; margin-bottom: 12pt; font-family: 'Times New Roman'; font-weight: bold;">Item 1</div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z799e5f263b884af88744d3381088496d" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">(a)</div>
          <div>&#160;</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">Name of Issuer</div>
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">Gray Television, Inc.</div>
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="font-family: 'Times New Roman';">(b)</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="font-family: 'Times New Roman';">Address of Issuer&#8217;s Principal Executive Offices</div>
          <div>&#160;</div>
          <div style="font-family: 'Times New Roman';">4370 Peachtree Road NE</div>
          <div style="font-family: 'Times New Roman';">Atlanta, GA 30319</div>
          <div style="font-family: 'Times New Roman';">USA</div>
          <div style="font-family: 'Times New Roman';"> <br>
          </div>
        </td>
      </tr>

  </table>
  <div>
    <div style="font-family: 'Times New Roman',Times,serif; text-align: left;">
      <div><font style="font-weight: bold;">Item 2. </font><br>
      </div>
      <div> <br>
      </div>
    </div>
  </div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z60f421af71e74371b082df89e862eb4e" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">(a)</div>
          <div>&#160;</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">The Retirement Systems of Alabama ("RSA"), the filing person, is a public pension plan statutorily formed under the laws of the State of Alabama. RSA consists of the Teachers'
            Retirement System of Alabama ("TRS") and the Employees' Retirement System of Alabama ("ERS"), which includes and administers the Judicial Retirement Fund. Each system is considered a body corporate of the State of Alabama and they are referred
            to collectively for financial reporting purposes as "RSA." While each system has distinct boards of control, they share executive management and certain other services. In particular, the investment decisions for each system are made by RSA's
            investment staff.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">(b)</div>
          <div>&#160;</div>
        </td>
        <td style="width: 94.07%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
          <div>Address of Principal Business Office or, if none, Residence</div>
          <div> <br>
          </div>
          <div>P.O. Box 302150</div>
          <div>Montgomery AL 36130-2150</div>
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">(c)</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">Citizenship&#160; &#160;&#160; AL</div>
        </td>
      </tr>
      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">(d)</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="margin-bottom: 6pt; font-family: 'Times New Roman';">Title of Class of Securities: Common Stock (No Par Value) </div>
        </td>
      </tr>
      <tr>
        <td style="width: 5.93%; vertical-align: top;">
          <div style="font-family: 'Times New Roman';">(e)</div>
        </td>
        <td style="width: 94.07%; vertical-align: top;">
          <div style="font-family: 'Times New Roman';">CUSIP Number&#160;&#160; 389375106</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <b style="mso-bidi-font-weight: normal">Item 3.<font style="mso-tab-count:1">&#160;&#160;&#160; </font></b><b style="mso-bidi-font-weight: normal">If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:</b> <b style="mso-bidi-font-weight: normal"> <br>
  </b> <b style="mso-bidi-font-weight: normal"></b> <b style="mso-bidi-font-weight: normal"></b> <font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z066e1b63d83f440bb677a28a4175229a" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(a)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(b)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(c)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(d)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Investment company registered under section 8 of the Investment Company Act of 1940&#160; (15 U.S.C 80a-8).</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(e)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">An investment adviser in accordance with &#167;240.13d-1(b)(1)(ii)(E);</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(f)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9746;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">An employee benefit plan or endowment fund in accordance with &#167;240.13d-1(b)(1)(ii)(F);</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(g)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">A parent holding company or control person in accordance with &#167; 240.13d-1(b)(1)(ii)(G);</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(h)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">Page 3 of 6 pages</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(i)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(j)</div>
        </td>
        <td style="width: 36pt; vertical-align: top;">&#9744;</td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Group, in accordance with &#167;240.13d-1(b)(1)(ii)(J).</div>
        </td>
      </tr>

  </table>
  <p class="TabbedL2" style="font-family: 'Times New Roman',Times,serif;"><b style="mso-bidi-font-weight: normal">Item 4.<font style="mso-tab-count:1">&#160;&#160;&#160; </font>Ownership</b></p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <p style="text-indent: 36pt;" class="MsoBodyText">Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.</p>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z8e0f9ef98aa448c79398551d87124110" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(a)</div>
        </td>
        <td colspan="2" style="vertical-align: top;">
          <div style="text-align: left;">Amount beneficially owned:&#160; 7,126,750.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td colspan="2" style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(b)</div>
        </td>
        <td colspan="2" style="vertical-align: top;">
          <div style="text-align: left;">Percent of class:&#160; 7.6%.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td colspan="2" style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(c)</div>
        </td>
        <td colspan="2" style="vertical-align: top;">
          <div style="text-align: left;">Number of shares as to which the person has:</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td colspan="2" style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(i)</div>
        </td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Sole power to vote or to direct the vote 7,126,750.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(ii)</div>
        </td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Shared power to vote or to direct the vote&#160; &#160;&#160; 0</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(iii)</div>
        </td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Sole power to dispose or to direct the disposition of 7,126,750</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">
          <div style="text-align: left;">(iv)</div>
        </td>
        <td style="vertical-align: top;">
          <div style="text-align: left;">Shared power to dispose or to direct the disposition of&#160; &#160; &#160;&#160; 0</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="width: 36pt; vertical-align: top;">&#160;</td>
        <td style="vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td colspan="4" style="vertical-align: top;">
          <div style="text-align: left;">
            <div style="text-align: justify; margin-left: 18pt; margin-bottom: 12pt; font-family: 'Times New Roman';">The above beneficial ownership percentage is based on 93,633,773 shares of common stock outstanding as of October 31, 2019, as reported by
              the Issuer on Form 10-Q filed with the Securities &amp; Exchange Commission on November 7, 2019.</div>
          </div>
        </td>
      </tr>

  </table>
  <p style="font-family: 'Times New Roman',Times,serif;" class="MsoBodyText"> </p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <p class="MsoBodyText2" style="margin-left: 0.25in; font-family: 'Times New Roman',Times,serif;"></p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9607d6e1226c4256b0dcb27b08b78953" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Ownership of Five Percent or Less of a Class</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; text-indent: 21.6pt; margin-bottom: 12pt; font-family: 'Times New Roman';">If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more
    than five percent of the class of securities, check the following &#9744;.</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb4a1e5576c7248f3aed6603a10ebd6b4" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 6.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Ownership of More than Five Percent on Behalf of Another Person</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaa7fbd73424b4351bcf1794d64c06697" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman';">As noted in Item 2, RSA makes investment decisions on behalf of Alabama state public pension plans, including TRS and ERS.&#160; TRS holds 4,158,670&#160;shares of the Common Stock of issuer. ERS holds
                2,968,080&#160;shares of Common Stock of issuer.</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdaacef4ed1c747be82be5d8752750ceb" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 8.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; text-indent: 21.6pt; margin-bottom: 12pt; font-family: 'Times New Roman';">NA.</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd2054d77d7634c58b635aa11a2e42435" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 9.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Identification and Classification of Members of the Group</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; text-indent: 21.6pt; margin-bottom: 12pt; font-family: 'Times New Roman';">NA</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2e245f01051c40bc9b838278b81f0320" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman'; font-weight: bold;">Item 10.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Notice of Dissolution of Group</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; text-indent: 21.6pt; margin-bottom: 12pt; font-family: 'Times New Roman';">NA.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">Page 4 of 6 pages</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font> <font style="font-family: 'Times New Roman',Times,serif;"></font><b style="mso-bidi-font-weight:normal">Item 11.<font style="mso-tab-count:1">&#160;&#160;&#160;</font>Certification</b><font style="font-family: 'Times New Roman',Times,serif;"></font><font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"></font>
  <p class="TabbedL2" style="margin: 12pt 27pt 12pt 1in; text-indent: 0in; font-family: 'Times New Roman',Times,serif;">By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in
    the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a
    participant in any transaction having that purpose or effect.</p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <p style="font-family: 'Times New Roman',Times,serif; text-align: center;" class="FirmTitleCB">SIGNATURE</p>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <p style="font-family: 'Times New Roman',Times,serif;" class="MsoBodyText">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</p>
  <p style="font-family: 'Times New Roman',Times,serif;" class="MsoBodyText"> </p>
  <table id="z78532aba79e54d678337d52ce623565e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" align="center" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 40%; text-align: center;">
          <div>
            <div style="font-family: 'Times New Roman',Times,serif;">January 22. 2020</div>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%; text-align: center; vertical-align: bottom;">
          <div style="font-family: 'Times New Roman',Times,serif;">Date</div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 40%; text-align: center;">
          <div style="font-family: 'Times New Roman',Times,serif;">/s/ Marc Green<br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%; text-align: center; vertical-align: bottom;"><font style="font-family: 'Times New Roman',serif;">Signature</font></td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 40%; text-align: center;">
          <div style="font-family: 'Times New Roman',Times,serif;">Marc Green, Chief Investment Officer</div>
        </td>
      </tr>
      <tr>
        <td style="width: 60%;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%; text-align: center; vertical-align: bottom;"><font style="font-family: 'Times New Roman',serif;">Name/Title</font></td>
      </tr>

  </table>
  <font style="font-family: 'Times New Roman',Times,serif;"> </font><font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <p style="font-family: 'Times New Roman',Times,serif;" class="MsoNormal"></p>
  <font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> </font>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Attention: <font style="mso-spacerun:yes">&#160;</font>Intentional misstatements or omissions of fact constitute Federal
    criminal violations (See 18 U.S.C. 1001)</p>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
  </p>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
  </p>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><br>
  </p>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><br>
  </p>
  <p class="FirmTitleCB" style="text-align: justify; text-indent: 0.25in; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
  </p>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">Page 5 of 6 pages</font></div>
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